Home loan calculator
Free home loan calculator. Enter loan amount, interest rate and tenure to get monthly EMI, total interest and a year-by-year amortisation table. India rates 2026.
Calculator
Show year-by-year amortisation
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | Rs 99,511 | Rs 4,21,182 | Rs 49,00,489 |
| 2 | Rs 1,08,307 | Rs 4,12,387 | Rs 47,92,181 |
| 3 | Rs 1,17,881 | Rs 4,02,813 | Rs 46,74,300 |
| 4 | Rs 1,28,300 | Rs 3,92,394 | Rs 45,46,000 |
| 5 | Rs 1,39,641 | Rs 3,81,053 | Rs 44,06,359 |
| 6 | Rs 1,51,984 | Rs 3,68,710 | Rs 42,54,375 |
| 7 | Rs 1,65,418 | Rs 3,55,276 | Rs 40,88,957 |
| 8 | Rs 1,80,039 | Rs 3,40,655 | Rs 39,08,918 |
| 9 | Rs 1,95,953 | Rs 3,24,741 | Rs 37,12,965 |
| 10 | Rs 2,13,274 | Rs 3,07,420 | Rs 34,99,691 |
| 11 | Rs 2,32,125 | Rs 2,88,569 | Rs 32,67,566 |
| 12 | Rs 2,52,643 | Rs 2,68,051 | Rs 30,14,923 |
| 13 | Rs 2,74,974 | Rs 2,45,720 | Rs 27,39,949 |
| 14 | Rs 2,99,279 | Rs 2,21,415 | Rs 24,40,670 |
| 15 | Rs 3,25,733 | Rs 1,94,961 | Rs 21,14,937 |
| 16 | Rs 3,54,525 | Rs 1,66,169 | Rs 17,60,412 |
| 17 | Rs 3,85,862 | Rs 1,34,832 | Rs 13,74,550 |
| 18 | Rs 4,19,968 | Rs 1,00,726 | Rs 9,54,582 |
| 19 | Rs 4,57,090 | Rs 63,604 | Rs 4,97,492 |
| 20 | Rs 4,97,492 | Rs 23,202 | Rs 0 |
How the EMI formula works
Every Indian home loan EMI is calculated with the same closed-form formula:EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the total number of months. HDFC, SBI, ICICI, Axis - every bank uses the same equation, so if their sanction letter EMI differs from ours by more than a rupee or two, either the rate or the tenure disclosed is different from what you input.
Amortisation: how your EMI splits
In the first year of a 20-year loan at 8.5%, almost 75% of each EMI goes toward interest and only 25% toward principal. That ratio flips over time. By year 15 you are paying mostly principal. The amortisation table in the calculator shows the exact split per year, which is useful for planning prepayments (prepay in years 1 to 7 for maximum interest savings).
What EMI you can realistically afford
Banks use a Fixed Obligation to Income Ratio (FOIR). For salaries up to Rs 50,000 per month, FOIR cap is around 45%. Up to Rs 1.5 lakh, 55%. Above that, 60%. Subtract your existing EMIs (car, personal loan, credit card revolver) from that cap to get your available home loan EMI capacity. Our home loan eligibility calculator does this backwards: enter your salary, we give the max loan.
Tax impact that changes the real cost
Section 24(b) of the Income Tax Act allows up to Rs 2 lakh per financial year of home loan interest to be deducted from taxable income. For a 30% bracket taxpayer that is a Rs 60,000 annual rebate. On a Rs 50 lakh loan at 8.5% for 20 years, the first-year interest paid is roughly Rs 4.2 lakh, so the Rs 2 lakh cap is maxed out and the deduction is a hard limit. Section 80C allows another Rs 1.5 lakh on principal repayment but shares the cap with EPF, ELSS, insurance premiums, so most salaried buyers already saturate 80C before considering home loan principal.
Related guides
- Home loan EMI calculator (same tool, EMI-focused view)
- Home loan eligibility calculator (salary to max loan)
- Down payment + closing cost calculator (Gurgaon)
- Stamp duty + registration calculator (Haryana)
- How much home loan on Rs 50,000 salary
- CIBIL score needed for a home loan
- TDS on property purchase above Rs 50 lakh
Home loan calculator · frequently asked
EMI = [P x r x (1+r)^n] / [(1+r)^n - 1], where P is loan amount, r is monthly rate (annual rate / 12 / 100) and n is tenure in months. Our calculator applies this formula and shows the amortisation split per year.
As of October 2026, Indian home loan rates range from 8.35% to 9.5% at major banks (SBI, HDFC, ICICI). Private banks are typically 20-40 basis points higher than PSU banks. Use the rate your sanction letter quotes or request a formal pre-approval from 2-3 banks before deciding.
Most Indian banks cap home loan tenure at 30 years. Age at loan maturity cannot exceed 70 for most lenders (75 for a few). If you are 45 at origination, 25 years is your practical max.
RBI caps LTV at 90% for loans under Rs 30 lakh, 80% for Rs 30 to 75 lakh, 75% above Rs 75 lakh. So for a Rs 1 crore property most buyers put down at least 25 lakh plus stamp duty and registration.
Yes, floating-rate home loans in India cannot carry prepayment penalty per RBI rules (circular 2014). Fixed-rate loans may carry 2 to 4% penalty. Partial prepayment of annual bonus into principal is the fastest way to cut total interest.
Section 24(b) allows deduction of up to Rs 2 lakh per year on interest for a self-occupied property. Section 80C allows up to Rs 1.5 lakh deduction on principal repayment (within the overall 80C cap). First-time buyers get an additional Rs 50,000 under Section 80EE if the loan is sanctioned and property is under Rs 50 lakh.
Most Indian banks require a CIBIL score of 750 or above for the best home loan rates. Scores 700 to 749 get approval at a 15 to 30 basis point premium. Below 700 you may still get approval but with much tighter LTV and documentation.
At 8.5% for 20 years, a Rs 50 lakh home loan has an EMI of approximately Rs 43,400. Banks typically allow 50% of take-home for EMI, so you need a net monthly salary of around Rs 90,000 to qualify, assuming no other EMI commitments.
A longer tenure cuts EMI but hugely inflates total interest. On a Rs 50 lakh loan at 8.5%, going from 15 to 25 years drops EMI from Rs 49k to Rs 40k but adds Rs 32 lakh in total interest paid. Pick the shortest tenure your cash flow can sustain.
This calculator uses the standard EMI formula and gives you the full amortisation year-by-year, with no login or lead-capture. Bank calculators usually show only monthly EMI and route you to a sales call. Our output is directly comparable to any bank sanction letter.